Free Online MCQs Questions of CBSE Class – 11 Accountancy Chapter 4 – Process & Basis of accounting with Answers. Free Online MCQs Questions for Class 11 Accountancy with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Accountancy Chapter 4 – Process & Basis of accounting Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.
Free Online MCQs for Class -11 Accountancy
Chapter 4 – Process & Basis of accounting Analysis with Answers
- Which of the following highlights the correct order of the stages in the accounting cycle?
- Journalizing, final accounts, posting to the ledger and trial balance
- Journalizing, posting to the ledger, trial balance and final accounts
- Posting to the ledger, trial balance, final accounts and journalizing
- Posting to the ledger, journalizing, final accounts and trial balance
- The first step in accounting process is
- Measurement
- Classification
- Identification
- Recording
- Transactions recorded in books are of
- Non-financial and Quantitative in nature
- Financial and Quantitative in nature
- financial and Qualitative in nature
- None of the above
- What are the basis of accounting
- Cash Basis
- Accrual Basis
- Mixed Basis
- Both A & B
- All of the above
- Outstanding expenses are recorded in which basis of accounting
- Cash Basis
- Accrual Basis
- Both method
- None of the above
- Does cash basis of accounting violates GAAP
- No, as it doesn’t follow matching principle and accrual concept.
- Yes, It follows GAAP
- Yes, it follow GAAP but only in case of few transactions
- Both b & C
- Which doesn’t relates to accrual basis of accounting
- It includes recording of cash Expenses
- It includes recording of outstanding and prepaid Expenses
- It includes future expenses also
- None of the above
- Which accounting method is recognised by Companies Act, 2013
- Accrual Basis
- Cash Basis
- Both a & B
- Companies Act 2013 has no relation with accounting method
- The concept of capital and revenue item exist in
- Accrual Basis
- Cash Basis
- Both a & B
- None of the above
- Which statement is true related to Hybrid or Mixed system of accounting,
- Revenue and assets are recorded on cash basis
- Revenue and assets are recorded on Accrual basis
- Expenses and Liabilities are recorded on cash basis
- None of the above
MCQs Questions of Class – 11 Accountancy Chapter 4 – Process & Basis of accounting
Answer Key
- (b) 2. (c) 3. (b) 4. (e) 5. (b) 6. (a) 7. (c) 8. (a) 9. (a) 10. (a)
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